Farah & Farah Tells Media: Don’t Get Rid of PIP
PIP. It stands for personal injury protection and this mandatory insurance has been around since 1972 and provides auto accident coverage of $10,000. PIP was enacted because there are so many uninsured drivers in Florida. There are frequently legislative rumblings to change it, but the latest comes from Florida Insurance Commissioner Kevin McCarthy, who says the system is full of fraud and costing Floridians hundreds of millions of dollars in higher insurance premiums. This article by First Coast News says PIP payments are up 70 percent over the last two years, something the insurance industry doesn’t like.
Eddie Farah of Farah & Farah was interviewed about the PIP debate by First Coast News on Sunday August 21. He says PIP is a safety net for those who are underinsured or not insured at all. If you are in an auto accident in Florida, PIP not only covers medical expenses but reimburses lost wages, “otherwise, you’;re going to have a lot of people who don’;t have health insurance and no wage reimbursement while recovering from an accident,” Farah told the news station.
Florida’s Chief Financial Officer, Jeff Atwater has also weighed in and admits fraudulent crashes staged by those trying to cash in on PIP are down. Still, he believes change is necessary.
What can consumers do? Contact your state legislator and tell them you support the PIP system. Insurance companies are known to make promises that your insurance premium will decrease if you make concessions, but when is the last time your auto insurance premium dropped?
Farah & Farah is always there when you need to talk to an expert in personal injury law and someone experienced in helping those in their time of need following an Florida car crash.